Telecom Service Assurance Market Size & Share 2022 to 2028
Market Size by Component (Solution [Fault Management, Performance Management, Service Monitoring, Service Assurance Analytics], Services [Professional and Managed Services]), Operator Type, Deployment Model & Forecast.
Report ID: GMI5185
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Published Date: January 2022
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Report Format: PDF
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Authors:
Preeti Wadhwani, Aishvarya Ambekar
Telecom Service Assurance Market Size
Telecom Service Assurance Market size exceeded USD 5 billion in 2021 and is estimated to grow at over 5% CAGR between 2022 and 2028. Growing number of mobile subscribers worldwide is boosting the industry growth. Moreover, the increasing adoption of IoT technology is anticipated to support market demand. For instance, as per the Ericsson Mobility Report, 40% cellular IoT connections are expected to overtake broadband IoT with 4G connectivity by 2027.
The global COVID-19 restrictions resulted in social distancing and increased the demand for high internet connectivity to avoid any potential exposure to coronavirus. This has created more opportunities for market players to develop advanced telecom service assurance solutions. Communication service providers in the telecom industry have extensively used telecom service assurance tools to provide cost-effective and high-quality digital services during the pandemic.
Telecom Service Assurance Market Analysis
Fault management segment in Canada held around 30% of the telecom service assurance market share in 2021 on account of the growing need to improve a network’s service quality. It helps CSPs to prevent network errors and determine the root cause of the issues. It offers several benefits such as SDN/NFV infrastructure support, customer protection from service quality deterioration, and improved customer satisfaction.
Rising network infrastructure in Canada is further augmenting the segment demand. As telecom service assurance is one of the most commonly used network monitoring solutions among operators to manage & control errors, it is expected to drive the market revenue.
In the UK telecom service assurance market, mobile operator type is poised to witness 5% gains through 2028 owing to the rising adoption of remote working environment across the country. During COVID-19, the demand for high internet connectivity and video conferencing has increased the usage of mobile wireless services. It delivers cost-effective & high-quality services, attracting the users. Significant cost savings and excellent services are the major factors enhancing the industry statistics.
Additionally, companies operating in the country are forming strategic partnerships to expand the 5G network capabilities, providing growth opportunities to the market. For instance, in January 2022, Vodafone partnered with Samsung for the deployment of Open RAN network across Europe with over 2,500 sites. Through this partnership, Vodafone will deliver carrier-grade 5G vRAN solutions to Vodafone customers in the UK.
In China, the cloud model is projected to register growth rate of above 10% during 2022 to 2028 led by increasing trend of transformation of communication services, encouraging telecom operators to deploy network infrastructure in cloud. Cloud model allows CSPs to store and process information remotely, allowing them to expand their services more efficiently. It offers several benefits such as increased time to market, improved customer experiences, enhanced security, and network automation.
North America is set to generate USD 3 billion revenue by 2028 due to growing investments in the telecom industry and in 5G technology. Telecom service providers are focusing on expanding their network infrastructure in the region, providing high-quality digital services. The major industry participants such as VMware, NetScout Cisco, etc., in the region are developing partnerships to increase their service assurance product capabilities. Moreover, the increasing IoT connections in countries such as the U.S. and Canada are providing significant growth opportunities.
Telecom Service Assurance Market Share
Some of the telecom service assurance market leaders include:
Companies are forming strategic partnerships to develop advanced & integrated telecom service assurance platforms.
This market research report on telecom service assurance includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2028 for the following segments:
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Market, By Component
Market, By Operator Type
Market, By Deployment Model
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
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Our 6-step research process
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